Kelowna, BC -- July 28, 2015 -- InvestorsHub NewsWire
-- Lexaria, Corp. (OTCQB:LXRP)
(CSE:LXX)
(the Company) provides the following information to update both the
status of the ongoing laboratory testing; and, of progress with
sales and distribution.
LABORATORY TESTING
On May 20, Lexaria announced that it was to commence third party
in vitro tests using a human intestinal tissue model to evaluate
the cannabidiol (CBD) permeability of its patent-pending technology
that infuses cannabinoid compounds within lipids. The tests are
expected to provide third party evidence of the superior absorption
characteristics available through Lexarias patent-pending
technology. On May 20 the Company stated that results are expected
within 3-4 months.
Lexaria is pleased to report that the studies are progressing
favorably, with initial phases wrapped up and the final testing
phase currently in progress. This final testing phase should be
complete around mid-August, with results available in late
August.
Lexaria initiated these third party in vitro tests to provide
scientific evidence of the performance of its patent pending
absorption technology. The Company expects a positive outcome to
these tests which may be unique in this entire industry.
SALES AND DISTRIBUTION
Lexaria is pleased to report that in recent weeks we have
experienced an increase in sales and in retail distribution
enquiries. June of 2015 marked the Companys first on-the-ground
sales and market intelligence efforts with professional sales
consultants making our first face-to-face sales and market
intelligence visits. Store owners and managers were asked to
provide feedback on the ViPovaTM tea products, and this
market data was used to optimize subsequent offerings and
procedures.
Sales consultants are currently engaged in face-to-face sales
calls in two cities, including the San Francisco Bay area, one of
the countrys most important urban markets. The current sales
efforts have already been successful. Additional medical marijuana
dispensaries are carrying the ViPovaTM product line, and
are adding new sales locations, often on a daily basis.
The Companys strategy earlier this year had been to Get it Right
before we Get Big. We have since optimized manufacturing techniques
in order to lower costs to the consumer while maintaining
profitable manufacturing operations for shareholders. Weve expanded
trade advertising in some of the most widely read magazines in the
medical marijuana industry, and attended several industry
conferences to introduce ViPovaTM tea.
Lexaria is also poised to introduce new product flavors and
entirely new products in August and September. The new products,
together with growing awareness of Lexaria and its
ViPovaTM line of products, are expected to assist in
meeting demand from our growing network of distributors and provide
customers an array of flavors in convenient to use, cost effective
servings. New products and an ever increasing network of physical
sales locations should lead to a marked increase in sales in the
weeks and months to come.
Lexarias consulting sales force is expected to continue
targeting individual cities for most of the rest of 2015. In
addition, discussions have begun with other professional sales
consultants to possibly begin a more national sales effort also in
2015. ViPovaTM hemp-based CBD teas are federally legal
in the USA giving Lexaria a strong advantage over companies that
deliver THC in their products and are thus prevented from engaging
in interstate commerce. As 2015 unfolds, the Company plans to
exploit this advantage by engaging in increasingly active
nearly-national sales campaigns. These sales efforts, combined with
what will be the industrys newest and most technologically advanced
product line focused on impressive bio-absorption rates, are hoped
to begin to deliver more significant sales revenues through the
rest of 2015.
Lexarias technology is designed to allow for higher
bioavailability rates for THC and for CBD than is possible without
lipophilic enhancement technology. This can allow for lower overall
dosing requirements and/or higher effectiveness in active molecule
delivery. Lexarias innovative lipid formulation process is designed
to allow the delivery of molecules such as are contained within
hemp oil without the harmful side effects of ingestion via smoking,
and should be embraced for the benefits to public health.
About Lexaria
Lexaria is a food sciences company focused on the delivery of
hemp oil compounds procured from legal, agricultural hemp, through
gourmet foods based upon its proprietary infusion technologies.
www.lexariaenergy.com
About ViPovaTM
ViPovaTM uses only legal hemp oil extracts, grown
from agricultural hemp in locations where it is legal to do so, in
ViPovaTM-branded tea. ViPovaTM uses its
patent-pending process to infuse concentrated amounts of hemp oil
within lipids in its tea, providing more bioactivity and comfort to
the body during the absorption process. Only ViPovaTM
has this ground-breaking technology for hemp oil/lipid infusion.
www.vipova.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements
which are not historical facts are forward-looking statements. The
Company makes forward-looking public statements concerning its
expected future financial position, results of operations, cash
flows, financing plans, business strategy, products and services,
competitive positions, growth opportunities, plans and objectives
of management for future operations, including statements that
include words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will,"
and other similar expressions are forward-looking statements. Such
forward-looking statements are estimates reflecting the Company's
best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements. Access to capital, or lack thereof, is a major risk and
there is no assurance that the Company will be able to raise
required working capital. Factors which could cause actual results
to differ materially from those estimated by the Company include,
but are not limited to, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation,
competition and other factors which may be identified from time to
time in the Company's public announcements and filings. There is no
assurance that the medical marijuana, hemp oil sector, or
alternative health businesses will provide any benefit to Lexaria,
or that the Company will experience any growth through
participation in these sectors. There is no assurance that existing
capital is sufficient for the Company's needs or that it will need
to attempt to raise additional capital. There is no assurance that
any planned corporate activity, business venture, or initiative
will be pursued, or if pursued, will be successful. There is no
assurance that any hemp oil or cannabinoid-based product will
promote, assist, or maintain any beneficial human health conditions
whatsoever. There is no assurance that the cannabinoid/lipid
infusion technology will provide any increase in bioavailability to
any individual person. There is no assurance that the third party
in vitro absorption tests will result in positive or meaningful
results. There is no assurance that current or planned sales
initiatives will result in increased or any product sales. No
statement herein has been evaluated by the Food and Drug
Administration (FDA). ViPovaTM products are not intended
to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.